Gold fells ahead of Fed decision

© Scanpix/Reuters

Gold slid to the lowest settlement in a week in London amid speculation the U.S. Fed will keep cutting stimulus, curbing a safe haven demand. The yellow metal for immediate delivery dropped 0.7% to $1,346.19 as of 9:12 a.m. in London. It touched $1,345.52, the level unseen since March 12, showing the third and the longest drop since December. Bullion for April contract dropped 0.9% to $1,346.80 on the Comex in New York.